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Jan. 12, 2020, 11:35 p.m. EST

Asian markets subdued ahead of signing of U.S.-China ‘phase one’ trade deal

Stocks edge up in Hong Kong, mainland China; Nikkei closed

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By Marketwatch


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Stocks rose slightly Monday in Hong Kong.

Asian markets were mixed in subdued early trading Monday, ahead of the signing of a “phase one” trade deal between the U.S. and China later this week.

The world’s two largest economic powers are scheduled to sign the phase-one deal Wednesday in Washington, with China reportedly agreeing to buy more U.S. agricultural products and implementing economic reforms, and some tariff relief coming from the U.S. The Wall Street Journal reported Saturday that the U.S. and China have also agreed to hold semiannual talks to discuss and resolve points of dispute.

“It’s unlikely there will be an exceptional level of excitement in the market as the agreement has been extensively telegraphed, although President Trump will likely herald the deal in with much fanfare,” wrote Stephen Innes, chief Asia market strategist for AxiTrader, in a note Sunday. “Provided the deal inks a commitment from China to increase agricultural products and outlines a dependable enforcement mechanism, the market will go merrily along the way.”

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.61%   rose 0.8%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.81%   was about flat and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.62%   advanced 0.7%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.13%   gained 0.6% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.48%  , SIngapore /zigman2/quotes/210597985/delayed SG:STI +0.53%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.11%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.07%   fell 0.5%. Japan’s Nikkei was closed for a holiday.

Among individual stocks, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +2.61%   and AAC /zigman2/quotes/201441510/delayed HK:2018 +0.11%  rose in Hong Kong trading, along with Sun Hung Kai Properties /zigman2/quotes/209086152/delayed HK:16 -1.49%   and Bank of China /zigman2/quotes/204682472/delayed HK:3988 +0.65%  . Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +0.43%   advanced in South Korea, while BHP /zigman2/quotes/201448516/delayed AU:BHP +0.51%   and Oil Search /zigman2/quotes/204702973/delayed AU:OSH -0.99%   fell in Australia.

Stocks ended lower Friday, after the Dow briefly topped the 29,000 milestone, with investor euphoria over recent record highs deflated by data showing slower-than-expected U.S. jobs and wage growth in December. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.24%   fell 0.3% to 3,265.35 from its record set Thursday. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.32%   briefly topped the 29,000 level for the first time but ended down 0.5%. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.0041%   dropped 0.3%, to 9,178.86.

Benchmark U.S. crude   gained 1 cent to $59.05 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 52 cents on Friday to close at $59.04. Brent crude  , used to price international oils, retreated 6 cents to $64.92 per barrel in London. It declined 39 cents the previous session to $64.98.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0386%   gained to 109.62 yen from Friday’s 109.46 yen.

The Associated Press contributed to this report.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,969.71
+176.57 +0.61%
Volume: 2.19M
April 16, 2021 4:09p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,426.62
+27.63 +0.81%
Volume: 25.86B
April 16, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,220.22
+13.67 +0.62%
Volume: 35.06B
April 16, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,198.62
+4.29 +0.13%
Volume: 985,278
April 16, 2021 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,158.81
+82.08 +0.48%
Volume: 0.00
April 16, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,201.76
+16.99 +0.53%
Volume: 0.00
April 16, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,086.26
+6.76 +0.11%
Volume: 0.00
April 16, 2021 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,063.50
+4.90 +0.07%
Volume: 627,013
April 16, 2021 5:49p
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 185.00
+4.70 +2.61%
Volume: 7.10M
April 16, 2021 4:08p
P/E Ratio
36.80
Dividend Yield
0.57%
Market Cap
HK$197.26 billion
Rev. per Employee
HK$1.75M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 46.60
+0.05 +0.11%
Volume: 12.22M
April 16, 2021 4:08p
P/E Ratio
32.91
Dividend Yield
0.64%
Market Cap
HK$56.26 billion
Rev. per Employee
N/A
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/zigman2/quotes/209086152/delayed
HK : Hong Kong
HK$ 119.30
-1.80 -1.49%
Volume: 2.60M
April 16, 2021 4:08p
P/E Ratio
15.95
Dividend Yield
4.15%
Market Cap
HK$350.92 billion
Rev. per Employee
HK$2.11M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.08
+0.02 +0.65%
Volume: 338.76M
April 16, 2021 4:08p
P/E Ratio
4.18
Dividend Yield
7.61%
Market Cap
HK$1082.72 billion
Rev. per Employee
HK$3.34M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
231,500
+1,000 +0.43%
Volume: 577,562
April 16, 2021 3:30p
P/E Ratio
42.33
Dividend Yield
1.30%
Market Cap
₩52713.24 billion
Rev. per Employee
₩1.45B
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 47.57
+0.24 +0.51%
Volume: 5.29M
April 16, 2021 4:10p
P/E Ratio
23.95
Dividend Yield
4.34%
Market Cap
$223.62 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 4.01
-0.04 -0.99%
Volume: 7.53M
April 16, 2021 4:10p
P/E Ratio
N/A
Dividend Yield
0.16%
Market Cap
$8.42 billion
Rev. per Employee
$1.22M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,180.34
+9.92 +0.24%
Volume: 952.81M
April 16, 2021 12:37p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,145.00
+109.01 +0.32%
Volume: 159.18M
April 16, 2021 12:37p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,039.33
+0.57 +0.0041%
Volume: 2.23M
April 16, 2021 12:37p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.7990
+0.0420 +0.0386%
Volume: 0.0000
April 16, 2021 12:37p
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